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2021
Light Therapy Market

Light Therapy Market: Global Opportunity Analysis and Industry Forecast, 2020–2027

A11212
Pages: NA
Dec 2021 | 213 Views
   
Author(s) : Onkar Sumant
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COVID-19

Pandemic disrupted the entire world and affected many industries.

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Light therapy also referred to as phototherapy, is a treatment carried out using artificial light source. It is mainly used in the treatment of Seasonal Affective Disorder (SAD), which is a depressive disorder having seasonal patterns. This therapy is used to compensate for the scarcity of the person to exposure to sunlight, which leads to the condition. The light source is used to mimic natural sunlight and hence assist in the treatment. Light is used for other conditions including sleep disorders and various other types of depression. A unit of measure called as a lux gauges, the amount of light used in the therapy. The standard output of a light box is in range 2,500 and 10,000 lux.

Market scope and structure analysis:

Report Metric

Details

  Market size available for years

  2020–2027

  Base year considered

  2019

  Forecast period

  2021–2027

  Forecast units

  Value (USD)

  Segments covered

  Product, Light Type, Application and Region

  Regions covered

North America (U.S. and Canada), Europe (Germany, UK, France, and the Rest of Europe), Asia-Pacific (China, Japan, India, and the Rest of Asia-Pacific), Latin America (Brazil, Mexico, and the Rest of LATAM) and The Middle East and Africa

  Companies covered

Major players analyzed include Beurer, Chal-Tec, Lucimed, Lumie, Aura Daylight, Koninklijke Philips, Northern Light Technology, Zepter International Nature Bright, Sphere Gadget Technologies, Neutrogena, Photomedex, and BioPhotas.


COVID-19 scenario analysis:

The global lockout situation due to outbreak of the pandemic has led to the unprecedented collapse of economic activities. The COVIS-19 is straining the healthcare systems including the treatment of various disorders globally.  The healthcare professionals are experiencing threat due to the virus when they get into direct contact with the individual vector carrying COVID-19. The various digital platforms for video conferencing have helped in assisting the individuals experiencing the disorder where they need light therapy. This has allowed the patients to buy the devices which can be kept for the Home care and hence will help the doctor monitor and treat the disease progression. The doctors are now maintaining the records of the patient online and are suggesting the medical aids or instruments which are compact and easy to use. This would help the growth of Home care setting and the technologically advanced product to gain maximum shares in the current scenario.

Top impacting factors: Market Scenario Analysis, Trends, Drivers and Impact Analysis

The rise in the global incidences of the skin diseases which needs the light therapy for treatment such as wrinkles, psoriasis, acne vulgaris and other dermatological disorder would help the market grow at a significant rate in the forecast period. The surge in the use of narrow band ultraviolet and broad band ultraviolet phototherapy for the treatment of skin related conditions will boost the industrial growth in the commenced period. The increase in the benefits offered by this therapy such as cellular rejuvenation and improved blood circulation and improvement in the blood circulation is anticipated to propel the market growth. Furthermore, hike in the patient preference towards minimally invasive technique and increase in the technological advancements in the light therapy would help the market growth at a higher pace in the coming years. Additionally, favorable reimbursement scenario in developing economies and steep rise in the use of blue light for the treatment of skin diseases are expected to boost the market in the near future. However, the risk of prevalence side effects due to the exposure to the light source directly may hinder the market growth in the next coming years.

The global Light Therapy market trends are as follows:

New product launches to flourish the market

The launch of the products are the key attributes focused by the prominent players, as the demand of the Light Therapy market is to be fulfilled, which would boost the market growth in the near future. For instance, in September 2019, PhotonMD Inc. announced positive results from the clinical testing which was assessed for the air growth effectiveness of the devices namely, REVIANRED. It is an all-LED cap used for the treatment of androgenetic alopecia. The rise in the applications of light therapy would propel the growth in the coming years.

Furthermore, the increase in the advancement of the product with respect to the need in the market would help the market propel in the near future. For instance, in November 2019, Theralight, LLC announced the launch of Theralight FIT which can be used for Photobomoduation (TBP) system. The unit sized system allowed smaller medical professional clinics and homecare settings to get easier access to the pain free treatments and also minimal side effects, which was the need of the hour. This would help the market grow at a significant rate in the forecast period.

Surge in incidences of disorders which needs light therapy to boost the market

The growth in the number of conditions and diseases which needs the light therapy as a part of the treatment for cure would help the Light Therapy market to gain maximum shares in the near future. According to the National Psoriasis Foundation, it is estimated that more than 8 million Americans are experiencing Psoriasis. The global statistics suggest that 125 million people worldwide have Psoriasis and is anticipated to grow. The rise in the person with the condition would help the market gain significant growth in the forecast period.

Furthermore, the major problems nowadays faced by the global population include sleep disorders which is proved to be cured using light therapy and hence would boost the Light Therapy industry in the coming years. According to the American Sleep Association, the estimated number of people affected by sleep disorder is about 50-70 million and is expected to grow due to the mental stress and other factors. The alarming rise in such disorder is expected to help the market grow at a higher pace in the near future.

Key segments covered:

Segments

Sub-segments

  Product

  • Light Visor
  • Light Box
  • Floor and desk lamps
  • Bulbs
  • Handheld devices for skin treatment (HDST)
  • Others

  Light Type

  • White Light
  • Blue Light
  • Blue Light
  • Others

  Application

  • Eczema
  • Psoriasis
  • Vitiligo
  • Winter Blues
  • Acne Vulgaris
  • Others

  End User

  • Dermatology Clinics
  • Homecare setting
  • Others

 

Key benefits of the report:

  • This study presents the analytical depiction of the global Light Therapy industry along with the current trends and future estimations to determine the imminent investment pockets.
  • The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global Light Therapy market share.
  • The current market is quantitatively analyzed from 2020 to 2027 to highlight the global Light Therapy market growth scenario.
  • Porter’s five forces analysis illustrates the potency of buyers & suppliers in the Light Therapy market.
  • The report provides a detailed global market analysis based on competitive intensity and how the competition will take shape in coming years.

Questions answered in the Light Therapy Market research report:

  • Who are the leading market players active in the Light Therapy market?
  • What are the current trends will influence the Light Therapy market in the next few years?
  • What are the driving factors, restraints, and opportunities in the Light Therapy market?
  • What are the projections for the future that would help in taking further strategic steps?
 
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